Steam for Linux

Upon installing VVVVVV, it 'installs' instantly. It doesn't run at all, and looking in the steam files, it never downloaded anything in the first place. This is either an issue with VVVVVV, or an issue with Steam. Since this is a Beta, I assume it's Steam.

We're out of Beta, we're releasing on time... no wait; I mean - this bug seems to still be there - is there a bug tracking thingo where I can keep tabs on progress (or make sure this isn't something to do with my install)?

This is not a bug. The game VVVVVV itself is in closed beta (beta for the game, not for Steam4Linux), so it shows up in the Linux list. One of these days the devs of the game will release it, until then, there's an active thread on the VVVVVVVVVVVVVVVVV forum.